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Originally Posted by shivtim
I see the Invesco logo in that rendering. I may have missed it, but are they a confirmed tenant? And if so, are they vacating their existing Midtown office space in Pershing Point?
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Here's an article from the ABC early this year:
Invesco to relocate HQ to Midtown Union first phase
Global asset management firm Invesco Ltd. (NYSE: IVZ) agreed with developers of the massive mixed-use Midtown Union project to relocate its global headquarters there, taking up half of the 606,000-square-foot office building and bringing 500 new jobs to Atlanta.
The deal and the project’s groundbreaking earned Midtown Union the Mixed-Use Deal of the Year award in Atlanta Business Chronicle’s 2020 Best in Atlanta Real Estate Awards.
Phase One of Midtown Union is located at the northern gateway to Atlanta’s bustling Midtown market, encompassing the city block that is bounded by 16th, 17th, Spring and West Peachtree streets.
Slated for completion in 2022, this first phase will include approximately 606,000 square feet of LEED-certified, class A office space; an 18-story, 355-unit luxury residential tower; a 12-story, 205-key boutique lifestyle hotel; 30,000 square feet of restaurants and specialty retail; and more than 1,900 spaces of deck parking. It will also include construction of Arts Center Way, a private road that will feature green space, that will connect the center of Phase One of Midtown Union with the Midtown Arts District.
The entities bringing this project to life include partnerships comprised of MetLife Investment Management and Dallas-based Granite Properties, Midtown Union’s office partner and master developer; another MetLife partnership with Streetlights Residential, a Dallas-based multifamily developer; and Stormont Hospitality Group and The Allen Morris Co., both Atlanta-based, which will be developing the hotel in partnership with MetLife.
In May, the MetLife-Granite partnership announced a deal with the $1.2 trillion Invesco global asset management firm, who committed to relocating its global headquarters here, leasing half of the office building, as well as bringing 500 new jobs to Atlanta. CBRE’s John Shlesinger represented Invesco in the transaction; JLL, which handles both office and retail leasing for Midtown Union, represented ownership. The real estate services company is also in charge of marketing the remaining 300,000 square feet in the office building.
Atlanta-based Cooper Carry is providing architecture, interior design, urban design and planning services; Miami-based Arquitectonica, master planning and landscape architecture services. The general contractor is Brasfield & Gorrie.
“Midtown Union consists of four distinct uses (office, retail, hospitality and residential) with three different partnerships, and the project’s design creates an integrated environment that seamlessly melds these components together,” said Matt Robinson, associate director, Southeast Regional Office, Real Estate, for MetLife Investment Management.
“But this integration between the distinct uses and partnerships comes with many challenges, as they all rely on infrastructure that is shared and is critical to each operation,” he notes, “requiring close coordination, collaboration, and innovation between the team members to achieve a successful execution.”
The project’s name reflects each partner’s willingness to, according to Robinson, “unite in a common purpose to create not just a top-notch office building, residential tower, or hotel, but rather a top-notch project in which each use complements the other in an environment where they are stronger together than they are separate.”
Midtown Union is all about connecting people, notes John Robbins, senior managing director of Granite Properties.
“Office workers, apartment residents, and hotel guests all find connection within the mix of amenities, restaurants, shops and green space we’re providing on-site,” said Robbins. With the extension of Arts Center Way through the development, “Midtown Union provides a much-needed east-west connection for the Woodruff Arts Center to the rest of the Arts District and Atlantic Station.”
Connecting to Midtown Union from the rest of Atlanta is easy, with access to four different major roadways and the Arts Center MARTA station across the street, Robbins said. “Midtown Union will set the standard in providing people from all walks of life the opportunity to connect in an innovative, vibrant, and productive environment to work, live, shop, dine and relax.”
Connectivity is an important part of this project, said Kevin Green, president and CEO of Midtown Alliance, particularly the link it provides between the core of Midtown and Atlantic Station.
Until now, there’s never been a major destination at the foot of the 17th Street bridge, he said. The bridge is around 1,000 feet long, or about a 3-minute walk, Green said. “Midtown Union provides a great opportunity to rethink this connection, make it more attractive to people on foot or bikes, and reduce the perceived distance between these activity centers.”
The origins of Midtown Union date to 2006, when MetLife Investment Management began assembling land at the corner of 17th and Spring streets. At the time, the property was called Midtown Heights. An attempt to develop the site in 2007-2008 had to be shelved due to the Great Recession.
In the years following the financial crisis, MetLife held on to the site, and also quietly acquired additional parcels to allow for the scale needed to create what it envisioned. In 2019, Granite joined as a partner and development manager, and Midtown Union was reimagined.
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